On Tuesday, oil prices are declining due to pressure from concerns over escalating trade tensions. Market participants are worried about the impact of increasing friction between the US and EU on economic activity and fuel demand.
Goldman Sachs has increased its oil price forecast for the second half of 2025, projecting Brent crude to average around $86 and WTI crude at $83 per barrel. The revision reflects concerns over potential supply disruptions and declining OECD petroleum inventories.
Bloomberg reports that escalating tensions surrounding US global trade policy are further clouding the outlook for crude oil demand. The energy market faces additional pressure from growing expectations of a supply glut later this year.
Oil prices continued their upward trend at the beginning of the week, extending gains from previous trading sessions, as markets reacted to potential new measures targeting Russian crude supplies.
The International Energy Agency (IEA) has pointed to a seeming contradiction in the global oil market balance, where the projected surplus does not correspond to the real state of supply and demand.
A decrease of the indicator value may contribute to the fall in quotes of WTI, Brent.
A decrease of the indicator value may contribute to the rise in quotes of NG, WTI, Brent.
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
According to five different trade sources cited by Reuters, Saudi Arabia's crude oil exports to China will rise to their highest level in two years in August.
UAE Energy Minister Suhail Al-Mazrouei stated on Thursday that the country could expand its oil production capacity after 2027 if market conditions warrant it. According to Reuters, this potential growth could position the UAE among the world's top five crude oil producers.
Analysts at Goldman Sachs Group Inc. predict that OPEC+ will probably wrap up its oil production increases at the next meeting, with a pause on further hikes to follow.
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Oil price movements are more than just charts on a screen. It is one of the key drivers of the global economy. Understanding these dynamics helps in making rational decisions and adapting to changes.
